PS Logistics Buys Yordy Transport, Boosts Flatbed Ops Again
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Diamond State Trucking & Logistics is to buy Morton, Ill.-based flatbed carrier Yordy Transport for an undisclosed sum, parent company PS Logistics said.
The deal, announced March 11, is the third flatbed acquisition in 2024 for PS Logistics, ranked No. 3 on Transport Topics’ list of the top flatbed/heavy specialized carriers in North America.
Birmingham, Ala.-based PS Logistics’ appetite for bolstering its asset base and in particular its flatbed operations is part of a long-term plan. Since 2016, the company has snapped up 26 trucking operations and five non-asset logistics operations.
As a result, PS Logistics ranks No. 33 on the TT Top 100 list of the largest for-hire carriers in North America as well as No. 41 on the top truckload carriers list.
PS Logistics’ latest acquisition through Malvern, Ark.-based Diamond State was founded in 2018 by Avery Yordy and primarily hauls railroad, steel, lumber and building materials in the central and southeastern United States.
A PS Logistics representative was not immediately available for comment on how many trucks and tractors the deal brought into the fold.
Yordy Transport’s freight mix and geographic coverage are complementary to Diamond State’s and are expected to provide immediate opportunities to realize operational synergies, PS Logistics said, adding that Yordy Transport will now operate under the Diamond State brand.
Smith
“We are excited to welcome Yordy Transport’s flatbed drivers and employees to the PS Logistics family,” PS Logistics CEO Scott Smith said. “This acquisition aligns nicely with our desire to partner with founder- or family-owned trucking companies that put their drivers first while also providing quality service to their customers, and PS Logistics is looking forward to the growth opportunities that will result from this acquisition.”
“Diamond State will be a great partner for my business,” Avery Yordy said. “Throughout the process of working with them, it became evident that they are committed to the drivers’ success, and I’m excited that Yordy Transport will now be a part of a larger organization that will provide greater freight choices to Yordy’s drivers and operational expertise to the business.”
Before the Yordy Transport deal, PS Logistics’ Birmingham, Ala.-based Blair Logistics unit said in January it was acquiring the flatbed division of Kenly, N.C.-based ELS for an undisclosed sum.
ELS operated a fleet of more than 90 tractors and more than 240 over-length flatbed trailers, primarily hauling steel, industrial materials, lumber and other building materials, PS Logistics said at the time of the deal.
“The ELS flatbed division will be complementary to our existing over-length operations and allow us to provide enhanced geographic coverage and service offerings to our customers while simultaneously providing greater opportunities to drivers,” Smith said.
Following the deal, PS Logistics’ 53-foot flatbed carrier fleet rose to more than 500 power units and 1,250 over-length trailers.
ELS retained its heavy-haul and intermodal operating divisions and is operating under the same name.
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Also in January, PS Logistics acquired Buddy Moore Trucking, which also is based in Birmingham, Ala.
PS Logistics said Jan. 8 that the Buddy Moore Trucking acquisition would enhance its flatbed, dedicated dry van and brokerage operations as well as diversify its modal and service offerings in the southeastern United States.
Buddy Moore Trucking was founded in 1999 and, before the merger, ran a 130-truck flatbed division and a 120-truck dedicated van division, in addition to operating a non-asset logistics division.
In 2023, PS Logistics bought Jacksonville, Fla.-based Rinaudo Enterprises and another Birmingham-based carrier, Action Dedicated.
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At the start of 2023, PS Logistics owned 1,900 tractors and 6,400 trailers and ran 1,350 lease-to-own tractors and 700 owner-operated tractors.
PS Logistics’ 2024 flatbed-buying spree follows the upending of power in the segment just before Christmas when top-ranked Daseke Inc. was snapped up by Montreal-based TFI International for $1.1 billion.
Like PS Logistics, TFI — the No. 4-ranked carrier on the for-hire TT 100 — displayed a hunger for multiple acquisitions per year in recent years. Now, though, publicly traded TFI is eyeing splitting up its less-than-truckload and truckload operations in 2025.
